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Assets and Liabilities Related to Real Estate Owned - Narrative (Details) - USD ($)
$ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Aug. 03, 2022

Jun. 29, 2021

May 24, 2021

Dec. 31, 2020

Dec. 31, 2022

Jun. 30, 2022

Sep. 30, 2021

Jun. 30, 2021

Mar. 31, 2020

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Mar. 31, 2021

Dec. 31, 2017

Dec. 31, 2015

Jun. 30, 2015

Debt Securities, Available-for-sale [Line Items]

Real estate held-for-sale, impairment

$ 600

Total carrying value, net

$ 8,681,990

$ 8,681,990

$ 7,857,260

Debt related to real estate owned, held for investment, net

160,294

160,294

0

Decrease in Specific CECL Allowance, net

$ 10,000

$ (10,000)

$ 20,000

(11,500)

Realized loss on investments

(18,683)

20,767

$ 47,632

Less: deferred financing costs

27,700

27,700

Debt instrument, covenant, unencumbered liquidity, threshold

100,000

100,000

Debt instrument, covenant, net worth threshold

600,000

600,000

Mortgages

Debt Securities, Available-for-sale [Line Items]

Debt related to real estate owned, held for investment, net

160,300

160,300

Less: deferred financing costs

4,500

$ 4,500

Secured Overnight Financing Rate

Debt Securities, Available-for-sale [Line Items]

Interest rate for repurchase facility

2.55%

Letter of Credit

Debt Securities, Available-for-sale [Line Items]

Maximum amount of borrowings

388,400

$ 388,400

JV Partner

Debt Securities, Available-for-sale [Line Items]

Financing receivable, loan in process

$ 164,800

JV Partner | Joint venture

Debt Securities, Available-for-sale [Line Items]

Equity method investment, ownership percentage

100.00%

Senior Mezzanine Loans

Debt Securities, Available-for-sale [Line Items]

Total carrying value, net

191,600

191,600

Subordinate Mortgage Portfolio Segment

Debt Securities, Available-for-sale [Line Items]

Total carrying value, net

^[1],[2]

560,881

560,881

844,948

Subordinate Mortgage Portfolio Segment | Mezzanine Loans

Debt Securities, Available-for-sale [Line Items]

Decrease in Specific CECL Allowance, net

$ 10,000

Commercial Mortgage and Subordinated Portfolio Segment

Debt Securities, Available-for-sale [Line Items]

Total carrying value, net

138,300

138,300

97,800

Decrease in Specific CECL Allowance, net

(11,500)

Realized loss on investments

$ 20,000

Hotel - Anaheim, CA | Subordinate Mortgage Portfolio Segment

Debt Securities, Available-for-sale [Line Items]

Debt related to real estate owned, held for sale

$ 33,000

Specific CECL allowance (reversal), net of previously recorded amount

$ 2,400

Hotel - Washington D.C.

Debt Securities, Available-for-sale [Line Items]

Decrease in Specific CECL Allowance, net

$ 10,000

Hotel - Washington D.C. | Junior Mezzanine Loans

Debt Securities, Available-for-sale [Line Items]

Total carrying value, net

20,000

$ 20,000

Hotel - Washington D.C. | Senior Mezzanine Loans

Debt Securities, Available-for-sale [Line Items]

Total carrying value, net

24,500

Payments to acquire mortgage notes receivable

24,500

Hotel - Washington D.C. | Subordinate Mortgage Portfolio Segment

Debt Securities, Available-for-sale [Line Items]

Debt related to real estate owned, held for investment, net

$ 110,000

$ 110,000

$ 110,000

Payments for mortgage loans

$ 110,000

Multifamily Development - Brooklyn, NY

Debt Securities, Available-for-sale [Line Items]

Specific CECL allowance (reversal), net of previously recorded amount

(10,000)

Multifamily Development - Brooklyn, NY | Subordinate Mortgage Portfolio Segment

Debt Securities, Available-for-sale [Line Items]

Debt related to real estate owned, held for investment, net

$ 122,200

Decrease in Specific CECL Allowance, net

$ 30,000

Deed-In-Lieu Of Foreclosure

Debt Securities, Available-for-sale [Line Items]

Total carrying value, net

$ 226,500

302,700

$ 302,700

Real estate investment property, net

270,100

Realized investment gain

$ 43,600

Financing receivable, construction and finance costs capitalized

$ 32,700

[1]	Includes $191,608 and $0 pledged as collateral under secured debt arrangements in 2022 and 2021, respectively.
[2]	Net of $159,724 and $178,588 CECL Allowance in 2022 and 2021, respectively, comprised of $133,500 and $145,000 Specific CECL Allowance and $26,224 and $33,588 General CECL Allowance, respectively.

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Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs.

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Amortized cost excluding accrued interest, before allowance for credit loss, fee, and loan in process, of financing receivable. Excludes net investment in lease.

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Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.

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